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Swire Coca-Cola is the primary operating company for Swire Pacific’s beverage business across mainland China and Hong Kong. As one of the world’s largest Coca-Cola bottlers, it exclusively manufactures, markets, and distributes Coca-Cola products throughout most provinces of mainland China, Hong Kong, Taiwan, and parts of the Western United States. Beyond beverages, Swire Group maintains a significant presence in the real estate sector, particularly in commercial real estate throughout Hong Kong and mainland China.
Prior to acquiring Coca-Cola’s bottling facility in Vietnam, Swire Pacific, through its subsidiary Swire Properties, invested in two prominent real estate projects in Ho Chi Minh City: The River Thu Thiem and Empire City.
The River Thu Thiem
In September 2020, Swire Properties entered into a partnership agreement with City Garden JSC to develop The River Thu Thiem project, comprising 525 luxury apartments across 3 towers. As of year-end, the Hong Kong-listed company held a 20% stake in the project. Following its completion in 2022, The River Thu Thiem has sold the majority of its apartments at prices ranging from 130 to 180 million VND/m².
Empire City
Regarding Empire City, Swire Properties invested in this project beginning in March 2021 and holds a 15.73% stake through a partnership agreement with Gaw Capital Partners.
Empire City is the commercial name for the “Thu Thiem Observation Tower Complex” project, located in Functional Area No. 2 (Area 2b), south of the central core of Thu Thiem New Urban Area, and is developed by Imperial City Joint Venture Company Limited (Empire City LLC).
As of July 2018, Empire City had a charter capital of 5,422.4 billion VND, with the following shareholder structure: Tran Thai Real Estate Company Limited (15% charter capital), Tien Phuoc Real Estate Joint Stock Company (15% charter capital), Denver Power Ltd (30% charter capital), and Corredance Pte Ltd (40% charter capital).
To date, more than 45% of the project’s apartments have been sold. Similar to The River Thu Thiem, Empire City’s luxury apartments command premium pricing, ranging from 100 to 200 million VND/m².
